Today, let’s take a look at the battleground, the stablecoin track!
It has been the hottest currency since its launch, and its performance is also very strong. From the time of its launch to now, it has increased by 4.5 times. From 0.28 on November 20 to the highest point of 1.289 on December 19, it has increased by 4.5 times in one month. It has now fallen back to 1.23. The current market value of Usual coin has reached 548 million US dollars, and it is currently ranked 143+ in market value.
Introduction
In the cryptocurrency space, Usual (USD0) stands out as a stablecoin issuer with its emphasis on security and decentralization. Unlike many cryptocurrencies, Usual is backed by real-world assets, providing stable value to users seeking reliability in volatile markets. What makes Usual unique is its governance model, which redistributes ownership through tokens, making the decision-making process more community-oriented.
The decentralized nature of Usual ensures that no single entity has control, which is consistent with the core principles of blockchain technology. This decentralization is essential to maintaining transparency and trust among users. $U$USUAL plays a dual role, not only as a medium of governance, but also as a means for the community to participate in the development of the platform.
Practical application of the project
Usual is a secure, decentralized fiat stablecoin issuer that will distribute platform ownership and governance through its platform token USUAL in the future. Usual is a multi-chain infrastructure that brings together the growing tokenized real-world assets (RWA) of BlackRock, Ondo, Mountain Protocol, M0, and Hashnote entities, and transforms them into a permissionless, on-chain verifiable and composable stablecoin USD0.
Among them, USD0 is the first liquid deposit token (LDT) provided by Usual, which is backed by real world assets (RWA) at an ultra-short term of 1:1, ensuring its stability and security. At the same time, USD0, as an RWA stablecoin that aggregates various U.S. Treasury tokens, can be minted on Usual in two different ways:
Direct RWA deposit: users deposit eligible RWA into the protocol and receive an equivalent amount of USD0 at a 1:1 ratio;
Indirect USDC/USDT deposits: Users deposit USDC/USDT into the protocol and receive USD0 at a 1:1 ratio. This indirect method involves third-party collateral providers who provide the necessary RWA collateral. This allows users to obtain USD0 without having to directly handle RWA.
Project Background
There are a lot of investors, and many of them are big names. After all, stablecoins are a battleground!
Usual Token Economic Model
Total supply: 4 billion
Judging from the token distribution, the team did not get much and the distribution was relatively reasonable.
90% of the total token supply will be allocated to the community and 10% to insiders (team, advisors, investors), ensuring fair distribution and real participation by users.
Currently, 12.3% has been unlocked. From the unlocking point of view, it is a bit overwhelming. 0.64% needs to be unlocked every day, and it will continue until April 19, 2025, and then it will be reduced from 0.64% to 0.36% daily. Although most of the tokens have been allocated to users, users also need to cash out, and the selling pressure worries me!
Track Analysis
First, let’s look at the TVL on the chain
The total locked-in TVL on the chain is 1.11 billion US dollars, and the market value of Usual tokens has reached 559 million. The ratio of TVL and circulating market value has reached around 0.5. Compared with previous RWA projects, the higher ratio can reach 1 and the lower can reach around 0.2.
The advantage is that Usual is the leader in RWA stablecoins and ranks second in on-chain funds.
Summarize
Stablecoins are a battleground in every bull market. Even with the precedent of LUNA, capitalists are not afraid, because stablecoins are a giant that is sure to make money and will have stable returns. Low risk and high returns, even if there are problems, most of the losses are the users' money.
In addition, this project also has the concept of RWA. Everyone knows that this bull market was largely driven by BlackRock. You should know that BlackRock attaches great importance to the RWA sector, so this is why I prefer RWA.
Speaking of the price of tokens, the current price has both room and risks. First of all, the unlocking volume is too low. A large amount of unlocking every day will generate a lot of selling pressure. Ask yourself, if there is a very objective airdrop every day, will you fight the risk of halving for the doubled profit? Most people will not. In my opinion, unlocking is selling pressure. Moreover, compared with previous stablecoin projects, its market value is a bit high. In my opinion, this is the VC plate of capitalists. The allocation is very reasonable, but capitalists can use a lot of funds to get airdrops and create the effect of rat warehouses. Even if I miss the opportunity, I am unwilling to take risks. I choose to wait for the callback. Having said that, the project is very good and promising. I like it!
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